It is only really then that all these interest rate rises will start to bite. So many have been completely sheltered from the rises thus far which really limits just how impactful they can have on inflation.
Years of pumping air into the housing bubble has created this scenario. I mean honestly, did people think housing prices being 10 times median household income and growing 4 times faster than wages was going to lead to a better society and could be sustained ?
If we get a genuine correction or outright bursting of the bubble I will start to believe in "market forces" and "trickle down economics" as not being a lie at best and a genuine scam at worst.
